Free Flow, Inc. (FFLO) Announces $19.5 Million Stock Offering
Proceeds of the Regulation D Rule 506(c) Offering are expected to allow the Company to execute its business plan and begin its subsidiary expansion strategy
KING GEORGE, VA, Oct. 10, 2023 (GLOBE NEWSWIRE) — Free Flow, Inc. (FFLO:OTCQB), which has wholly owned subsidiaries in the automobile auction, auto parts salvage, scrap metal processing, used auto sales sectors, today announced that it is seeking to raise up to $19.5 million in a stock offering pursuant to Rule 506(c) promulgated under Regulation D of the Securities Act of 1933.
A Private Placement Memorandum (PPM) details the offering of fifteen million (15,000,000) Series D Preferred Shares at a price of $1.30 per share for a total of up to $19,500,000 pursuant to Rule 506(c) promulgated under Regulation D of the Securities Act of 1933, as amended (the “Securities Act”) and/or other applicable exemptions from registration under the Securities Act and applicable state law (the “Offering”).
The shares sold through this Offering will be restricted shares and will not be freely tradable until expiry of the statutory period under Rule 144 under the Securities Act of 1933 (the “1933 Act”), or if such shares are registered. The securities may be sold only to Accredited Investors, which for natural persons, are investors who meet certain minimum annual income or net worth threshold.
For additional details of the Offering, please see the PPM on the Free Flow, Inc. website at https://www.freeflowplc.com/offering/. The Company’s Investor Deck can be viewed at https://www.freeflowplc.com/investor-deck/.
In the PPM, the Company details its revised business model, which includes a new subsidiary, Free Flow Auto Auction, Inc., a marketplace connecting automobile sellers and buyer through an automobile auction platform, at https://freeflowautoauction.com. In the event a sale is not consummated, there is also an opportunity for FFLO’s used auto parts or auto dealership subsidiaries to purchase the seller’s vehicle at a fair market price.
In addition to Free Flow Auto Auction, Inc., the Company has three additional synergistic subsidiaries: City Autos, Corp., a used auto dealership, Accurate Auto Parts, Inc., a salvage yard for used auto parts, and Motors & Metals, Inc., a scrap metal processor.
Free Flow, Inc. also possesses the rights to market and sell HYGIENiQTM – a revolutionary green and invisible photo catalyst surface coating technology based on the most advanced nanoscience. A portion of the proceeds from this Offering may support the financial plan to hire salespersons to market and sell HYGIENiQTM to car washes and other commercial users.
As stated in the PPM, the Company intends to use the proceeds from this Offering for purchase of plant and machinery, inventory, and to employ production and management staff to operate more efficiently the scrap metal processing. Funds over and above the budgeted amount would enable its wholly owned Motors & Metals, Inc. subsidiary to reduce its borrowing for plant and machinery, and funds over and above that required sum are expected to be set aside to acquire other businesses and all for increased revenues and profits.
Current subsidiary operation plans include the purchase and installation of an 8085 metal shredding machine in order to increase shredding capacity at the Company’s 19.3-acre facility in King George, Virginia, making it possible to export more shredded metals. In addition to the ability to shred more metal from cars, this would allow the Company to also increase its ability to retrieve material and metals that can be resold to secondary purchasers.
More information about the Company can be viewed on its website, www.FreeFlowPLC.com.
ABOUT FREE FLOW, INC.
Free Flow, Inc., traded under the stock ticker symbol “FFLO”, is a Delaware company that creates and acquires operating subsidiaries with the goal of manufacturing and selling products and services. Through its current subsidiaries, the Company is in the businesses of automobile auction, used auto dealership, a salvage yard for used auto parts, and scrap metal processing targeted for its 19.3-acre facility in King George, Virginia. Every year, approximately eleven million cars are scrapped and end up in salvage yards for reprocessing. FFLO helps to reduce the carbon footprint involved in the production of new parts and steel products through the sales of recycled auto parts and supplies.
Forward- Looking Statements
The information in this press release includes “forward-looking statements” pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact included in this press release, regarding the proposed Business Transaction, the ability of the parties to consummate the proposed Business Transaction, the benefits and timing of the proposed Business Transaction, as well as the future operations and financial performance, estimated financial position, estimated revenues and losses, projections of market opportunity and market share, projected costs, prospects, plans and objectives of management are forward-looking statements. Such statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on the management of FFLO’s belief or interpretation of information currently available.
These forward-looking statements are based on various assumptions, whether or not identified herein, and on the current expectations of FFLO’s management and are not predictions of actual performance. Because forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions, whether or not identified in this press release, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. These forward-looking statements should not be relied upon as representing FFLO’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
CONTACT: Sabir Saleem Free Flow, Inc 703-789-3344
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.